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Dec 28, 2012
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cliff. congress and the white house now have less than a week to resolve that impasse. but here's where we ended up. checking the numbers for you -- >>> individual investors pulled $150 billion out of the stock market for the third year in a row. but institutional investors, the hedge funds, the pension funds, they're actually adding to their stock positions. they're poured more than $80 billion into stocks so far this year. >>> it may be time to refinance your mortgage. mortgage rates fell to near record lows yet again this week. freddie mac says the average rate on a 30 year slipped to 3.35%. that's not far from the record. 3.31% that we reached about a month ago. low mortgage rates are making home buying more affordable and allowing more americans to refinance their loans. >>> more americans are shifting to e-books. a pew research study finds 23% of americans have read on electronic book this yore. that's up from 16% last year. at the same time readers of traditional books dropped from 72
cliff. congress and the white house now have less than a week to resolve that impasse. but here's where we ended up. checking the numbers for you -- >>> individual investors pulled $150 billion out of the stock market for the third year in a row. but institutional investors, the hedge funds, the pension funds, they're actually adding to their stock positions. they're poured more than $80 billion into stocks so far this year. >>> it may be time to refinance your mortgage....
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Dec 27, 2012
12/12
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in addition to the "fiscal cliff," treasury secretary timothy geithner warned congress that the u.s. is close to hitting its debt limit of $16.4 trillion. geithner saved the government will take steps to allow more burrough after december 31. danielle nottingham, cbs news, washington. >>> let's look now at the markets. stocks fell sharply by 55 and change. the drop is attributed to consumer confidence falling to the lowest level since august. >>> the storm that moved across the country pushing northeast through new england after plowing through 30 states dumping snow, sleet and spawning dozens of tornadoes. edward lawrence has the latest. >> reporter: the northeast is dig out from a giant storm that dumped more than a foot of snow in some places. >> it's the heaviest snow i can remember. it's shutting the machine down every time of you give it a little push. the ice just clogs it up. >> reporter: the storm started in california last weekend and crossed the country creating blizzards in the midwest and south. several people died in traffic accidents. and the roads remain dangerous for
in addition to the "fiscal cliff," treasury secretary timothy geithner warned congress that the u.s. is close to hitting its debt limit of $16.4 trillion. geithner saved the government will take steps to allow more burrough after december 31. danielle nottingham, cbs news, washington. >>> let's look now at the markets. stocks fell sharply by 55 and change. the drop is attributed to consumer confidence falling to the lowest level since august. >>> the storm that moved...
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Dec 27, 2012
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fiscal cliff. president barack obama is on his way back to washington from his vacation -- he's expected to arrive in d.c. later this morning. congress is back in the nation's capitol trying to hammer out a deal. congressional officials say they don't know if any significant strides toward a compromise will take place. or going to happen before new year's and without an agreement automatic tax increases for everyone and deep spending cuts especially to defense. they go intoe penalty in 2013. the main dispute remains over taxes. who should be taxed? and when. >>> well, people may be mixed on the feelings for president obama. his wifes seems to have no problem charming the public. according to a new poll released yesterday the first lady has a 73% approval rating. secretary of state hillary clinton also pretty popular with 66% approving of her job performance. a little more than half of the people asked feel that both president obama and vice president joe biden are doing a good job. >>> just a few h
fiscal cliff. president barack obama is on his way back to washington from his vacation -- he's expected to arrive in d.c. later this morning. congress is back in the nation's capitol trying to hammer out a deal. congressional officials say they don't know if any significant strides toward a compromise will take place. or going to happen before new year's and without an agreement automatic tax increases for everyone and deep spending cuts especially to defense. they go intoe penalty in 2013....
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Dec 30, 2012
12/12
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what do you want to tell congress about the fiscal cliff? we'll have your video messages. >>> the woman accused of pushing a man in front of a subway is now being charged with a hate crime. now she's saying why she did it. >>> wow, a plane crash caught on tape, the story. hind this dash cam video of an exact moment a jet slammed into an overpass. >>> it's sunday, december 30th, good morning, i'm allisison kos. randi kaye is off today. we're going to start this morning in washington where all eyes on capitol hill as lawmakers try to work out on a deal to avoid the fiscal cliff. the deadline is less than 48 hours away and as to whether they can get it done, the president says he's hopeful. >> i'm modestly ll lly optimis an agreement can be achieved. let's make sure that middle class families and the world economy aren't adversely impacted because people can't do their jobs. >> both houses of congress are meeting in a rare sunday session. the house an hour later at 2:00. our chief white house correspondent jessica yellin now with the look at a
what do you want to tell congress about the fiscal cliff? we'll have your video messages. >>> the woman accused of pushing a man in front of a subway is now being charged with a hate crime. now she's saying why she did it. >>> wow, a plane crash caught on tape, the story. hind this dash cam video of an exact moment a jet slammed into an overpass. >>> it's sunday, december 30th, good morning, i'm allisison kos. randi kaye is off today. we're going to start this morning...
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Dec 27, 2012
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also concerns about the fiscal cliff. the president and congress return to d.c. retailers are doing a much better job of controlling inventory. muchstores don't have so merchandise left over that they need to clear out. netflix will introduce social features next year. a bill that would move restrictions on companies sharing customers rental histories. netflix customers can share which movies they watch an facebook. i'm a ellen braitman from bloomberg news. >> thank you so much. >> 37 degrees at the airport. keith mills will have sports coming up. >> don't forget to e-mail us your response to our water cooler question of the day. will you be more likely to visit a maryland casino now that some are open 24/7? you can share your response on wbaltv.com, on our facebook page, or send us an e-mail to watercooler@wbaltv.com. >> here is a look at last night's winning maryland lottery numbers. >> now insta-weather plus and traffic pulse 11 together. >> time to take a look at your morning commute. we are dealing with what roads -- wet roads. wind warnings are in effect at
also concerns about the fiscal cliff. the president and congress return to d.c. retailers are doing a much better job of controlling inventory. muchstores don't have so merchandise left over that they need to clear out. netflix will introduce social features next year. a bill that would move restrictions on companies sharing customers rental histories. netflix customers can share which movies they watch an facebook. i'm a ellen braitman from bloomberg news. >> thank you so much. >>...
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Dec 27, 2012
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he is still hoping to work out a deal with congress to avoid the fiscal cliff before the new year. >>> the storm that hammered the midwest with up to a foot of snow is now menacing the northeast. it's bringing heavy snow from pennsylvania to new england. and powerful winds, down all along the coast. >>> looking at the rest of today's weather. rain from seattle to portland. light showers in the cascades, northern rockies and dakotas. rain in south texas. >>> and finally this morning, a celebration of the season. >> kwanzaa festivities are taking place throughout the country. and here's karen jordan in chicago. ♪ >> reporter: drums signal the start of kwanzaa, a week-long celebration of african heritage and culture among african-americans. this is the 18th year that malcolm x college is hosting a kwanzaa observance. and organizers say it gets larger every year. >> it's about families coming together so they can be with each other and share and talk about where we've come from, where we are now and where we must go as a people. >> reporter: kwanzaa is based on seven principles. and eac
he is still hoping to work out a deal with congress to avoid the fiscal cliff before the new year. >>> the storm that hammered the midwest with up to a foot of snow is now menacing the northeast. it's bringing heavy snow from pennsylvania to new england. and powerful winds, down all along the coast. >>> looking at the rest of today's weather. rain from seattle to portland. light showers in the cascades, northern rockies and dakotas. rain in south texas. >>> and...
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Dec 29, 2012
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less than three days until the so-called fiscal cliff and congress still trying to hammer out a deal. they've had 515 days to work this out. still, though, capitol hill leaders are at an impasse and starting next week, you and i could see our paychecks cut as payroll taxes go up and that could be just the beginning. the clock at the bottom right of your screen there might as well have a blaringa, large on it because come midnight monday if lawmakers have not found the fiscal cliff solution you're going to hear a whole heck of a lot of noise. let's get straight to washington. nbc's kristen welker at the white house and luke russert is tracking developments at capitol hill and nbc news senior political editor mark murray is here to break it down for us from the washington bureau. we will start with kristen. last we heard, kristen welker, the president came out to report that he is modestly optimistic. has the rhetoric changed at all today? >> reporter: it has changed a little bit. the president is still modestly optimistic, but i just spoke with a democratic source who tells me at this
less than three days until the so-called fiscal cliff and congress still trying to hammer out a deal. they've had 515 days to work this out. still, though, capitol hill leaders are at an impasse and starting next week, you and i could see our paychecks cut as payroll taxes go up and that could be just the beginning. the clock at the bottom right of your screen there might as well have a blaringa, large on it because come midnight monday if lawmakers have not found the fiscal cliff solution...
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Dec 27, 2012
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congress and the white house have less than a week to figure out how to avoid the fiscal cliff. if they don't, our paychecks and the economy could take a hit. find out how it would effect you and your bottom line as "the fox report" rolls along. a lot of weight, c-max has a nice little trait, you see, c-max helps you load your freight, with its foot-activated lift gate. but that's not all you'll see, cause c-max also beats prius v, with better mpg. say hi to the all-new 47 combined mpg c-max hybrid. [ male announcer ] jill and her mouth have lived a great life. but she has some dental issues she's not happy about. so i introduced jill to crest pro-health for life. selected for people over 50. pro-health for life is a toothpaste that defends against tender, inflamed gums, sensitivity and weak enamel. conditions people over 50 experience. crest pro-health for life. so jill can keep living the good life. crest. life opens up when you do. aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps
congress and the white house have less than a week to figure out how to avoid the fiscal cliff. if they don't, our paychecks and the economy could take a hit. find out how it would effect you and your bottom line as "the fox report" rolls along. a lot of weight, c-max has a nice little trait, you see, c-max helps you load your freight, with its foot-activated lift gate. but that's not all you'll see, cause c-max also beats prius v, with better mpg. say hi to the all-new 47 combined...
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Dec 27, 2012
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lawmakers gear up to tackle the fiscal cliff on capitol hill. >> the fiscal cliff deadline is inching closer. the aviation industry is not worried. they say they will not face immediate destruction. the defense industry urging congress to shift its attention from the cuts than to fighting over taxes. if the cuts take effect, many jobs would be lost. starbucks taking a stand on the cliff. asking customers to write "come together" on cups. toyota will take a $1.1 billion charge to settle a lawsuit that has to do with more than 10 million vehicles because of unintended acceleration. good news for the housing market. homes i use will rise as much as 2.5% nationwide. they expect 2013 to be a seller's market. the best places to buy include cleveland and philadelphia. i'm ellen braitman with the bloomberg business report. >> 5:22. support pours into newtown, connecticut. a memorial that includes every gift and a letter. don't forget to e-mail us your response to our water cooler question of the day. will you be more likely to visit a maryland casino now that some are open 24/7? you can share
lawmakers gear up to tackle the fiscal cliff on capitol hill. >> the fiscal cliff deadline is inching closer. the aviation industry is not worried. they say they will not face immediate destruction. the defense industry urging congress to shift its attention from the cuts than to fighting over taxes. if the cuts take effect, many jobs would be lost. starbucks taking a stand on the cliff. asking customers to write "come together" on cups. toyota will take a $1.1 billion charge to...
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Dec 25, 2012
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congress is expected to come back later this week as america gets closer to the fiscal cliff. some larrymakers are now calling for a small scale deal as a temporary fix. >> i think it's impossible to get any kind of grand bargain or comprehensive package. i think we're dealing right now with whether or not we can put off the increases in tax rates. that's really all we can deal with right now. >> the house will stand in recess subject to the call of the chair. >> reporter: congress recessed after republicans rejected john boehner's compromise. he proposed letting tax cuts expire for those making over $1 million a year. other republicans say it's time for a deal. >> i agree with him. i don't think we ought to increase taxes on anyone. however, we're now at a point where we're not going to get what we think is right for our economy and our country. >> with congress coming back, the president will also reportedly cut short his holiday vacation in hawaii. democrats hope mr. obama will continue to fight for a complete agreement, not just a temporary patch. >> i definitely hope that
congress is expected to come back later this week as america gets closer to the fiscal cliff. some larrymakers are now calling for a small scale deal as a temporary fix. >> i think it's impossible to get any kind of grand bargain or comprehensive package. i think we're dealing right now with whether or not we can put off the increases in tax rates. that's really all we can deal with right now. >> the house will stand in recess subject to the call of the chair. >> reporter:...
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Dec 31, 2012
12/12
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we are going to see now whether or not congress is going to resolve any of the fiscal cliff issues. on this final day of 2012. so if we go over the fiscal cliff at midnight, the effects could start piling up quickly. >>> some of the changes we are going to notice immediately. others we'll phase in gradually. we sat down with a financial plan tore breakdown what this will mean for you i don't your take home pay is going to be smaller. that is pretty much a definite. >> reporter: mary beth franklin is a contributing editor for investment news, following the possible fallout from the fiscal cliff. $10 billion in across the board spending cuts, half of them from national defense programs, much of it spilling over into the metro area. >> with so many federal workers, they'll go to work on wednesday, january 2nd, but they don't know if they will go home after that. if the budget cuts kick in, there may not be enough money to run their agencies. >> reporter: the current funding for the federal government could run out before march, leading to a shutdown. while most of the tax changes go in
we are going to see now whether or not congress is going to resolve any of the fiscal cliff issues. on this final day of 2012. so if we go over the fiscal cliff at midnight, the effects could start piling up quickly. >>> some of the changes we are going to notice immediately. others we'll phase in gradually. we sat down with a financial plan tore breakdown what this will mean for you i don't your take home pay is going to be smaller. that is pretty much a definite. >> reporter:...
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Dec 29, 2012
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cliff. and, a shooting inside a politician. -- police station. officers down and a suspect dead. >> i saw them throw somebody into an ambulance. >> in moments, what we know about how this happened. and on very thin ice. >> the deeper you got out, the more ice was cracking. you just couldn't get to them. >> the rescue mission to pluck a man and a dog from a frozen river. i'm harris faulkner in for shepard smith. and president obama says tonight there is still time to get a deal done before we fall off the fiscal cliff. and he demanded congress take action now before it's too late. the president spoke in the white house briefing room just about an hour ago now. he was visibly tense. frustration in his voice. >> america wonders why it is in this town for some reason you can't get stuff done in an organized timetable. why everything always has to wait until the last minute. well, we are now at the last minute. and the american people are not going to have any patience for a politically self-infl
cliff. and, a shooting inside a politician. -- police station. officers down and a suspect dead. >> i saw them throw somebody into an ambulance. >> in moments, what we know about how this happened. and on very thin ice. >> the deeper you got out, the more ice was cracking. you just couldn't get to them. >> the rescue mission to pluck a man and a dog from a frozen river. i'm harris faulkner in for shepard smith. and president obama says tonight there is still time to get...
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Dec 28, 2012
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fears of going over the fiscal cliff have cost consumer confidence to tumble. >> i think if we get to january 2 and see the markets start to go down and constituents getting anxious and you'll see congress come to a deal and a lot quicker. >> house lawmakers could stay in session on january 2. >> one would lawmakers wait until after the deadline to reach a deal? >> there is a huge distinction. they reach a deal before the deadline they will have to raise taxes for some taxpayers. if they reach a deal after the deadline, they will be cutting taxes. >> tracy mitchell, great to see you. the clock also ticking down on time to make a deal to avoid a huge strike with longshoremen across the country. baltimore is no exception. kim dacey is live in south baltimore with details on what the strike could mean. >> good morning. it could be the biggest port strike in 35 years. it affects about 2000 workers here in baltimore. unless a deal is reached by sunday. $51 billion worth of cargo a year goes through the port of baltimore. 108,000 jobs are linked to activity at the port. that is in jeopardy
fears of going over the fiscal cliff have cost consumer confidence to tumble. >> i think if we get to january 2 and see the markets start to go down and constituents getting anxious and you'll see congress come to a deal and a lot quicker. >> house lawmakers could stay in session on january 2. >> one would lawmakers wait until after the deadline to reach a deal? >> there is a huge distinction. they reach a deal before the deadline they will have to raise taxes for some...
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>>> what does sex have in common with the fiscal cliff? i'm now for the sidebar. america's most famous sex therapist is weighing in on the stalled attacks. here's her take on this. members of congress who can't compromise probably aren't good lovers, sex requires give and take. allen west is one of hose members at least for the next few days. it is month surprise the republican from florida is criticizing the president. >> what the president is propose sing not rag mattic and it is a reflection of him living in some type of fantasy world. >> don't expect to see michelle obama's name on ballot any time soon. at least not according to david axelrod. >> you know, i think she sees her role much more as a private role. she's done a wonderful job with her kids. she will find ways to make contributions, i'm sure, but the last thing i think she would do is run for public office. >> the white house is getting flooded with requests to legally recognize the baptist church as a hate group. we the people petition already has more than 288,000 signatures. the kansas based group
>>> what does sex have in common with the fiscal cliff? i'm now for the sidebar. america's most famous sex therapist is weighing in on the stalled attacks. here's her take on this. members of congress who can't compromise probably aren't good lovers, sex requires give and take. allen west is one of hose members at least for the next few days. it is month surprise the republican from florida is criticizing the president. >> what the president is propose sing not rag mattic and it...
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Dec 27, 2012
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. >> first for you, the fiscal cliff, the world's most predictable political problem. this is the cover of "the washington post" the day after the election saying time to deal with the debt. everybody knows it. that was the whole idea, right? this was the big plan. election year is too divisive to get anything done. just kick the lame duck. so what happened? why can't congress find a way to work together, even with a gun at their head? >> because they don't get along. i think it may have been naive of some of us to think that the election was going to be the magic formula and they would play well in the sand box after the election. what's it going to take? i think it's going to take for us to go off the cliff and the american public demanding action. i think we're going to see that over and over again. it's going to be the american public demanding action on gun control. it's going to be the american public demanding action on immigration because we have to force them to act. >> but american public also has to stop acting as if they play no role in this. when you look
. >> first for you, the fiscal cliff, the world's most predictable political problem. this is the cover of "the washington post" the day after the election saying time to deal with the debt. everybody knows it. that was the whole idea, right? this was the big plan. election year is too divisive to get anything done. just kick the lame duck. so what happened? why can't congress find a way to work together, even with a gun at their head? >> because they don't get along. i...
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about how to retroactively fix any damage done by going over the cliff in the new congress. in washington nicole collins, fox news. >>> we are, of course, going to have much more on the fiscal cliff negotiations coming up at 10:30. a republican and democratic strategist will face off here and talk about the prospects for reaching a deal. >>> a strike that could have shut down ports all over the east coast have been averted for now. the longshoremen union along the east coast and the gulf of mexico says it will extend its contract for the next 30 days. that extension prevented a possible strike which could have crippled operations at ports that handle nearly half of all cargo in the united states including in our area at the port of baltimore. >>> we have breaking news tonight out of prince george's county where we are following a deadly fire in a townhome in green belt. you're looking live at the scene on laurel hill road. the flames broke out an hour ago. fire investigators say one person is dead in this fire, two others in the hospital, but with nonlife threatening injurie
about how to retroactively fix any damage done by going over the cliff in the new congress. in washington nicole collins, fox news. >>> we are, of course, going to have much more on the fiscal cliff negotiations coming up at 10:30. a republican and democratic strategist will face off here and talk about the prospects for reaching a deal. >>> a strike that could have shut down ports all over the east coast have been averted for now. the longshoremen union along the east coast...
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to try to avoid the fiscal cliff. leaders are offering up to $450,000 in family income before higher taxes kick in. last night they were unable to make a counter offer to republicans, vice president biden was called in to break the ice. "good morning america" will have the latest at 7:00. >> number two, house fire in san francisco sent two to the hospital. two story structure on athens street was well involved by the time firefighters arrived before 1 this morning. a gas main ruptured crews were >> number three, secretary of state clinton, still in the hospital this morning. getting treated with blood thinners for a blood clot. the clot was found yesterday during a follow-up exam. the secretary suffered a concussion from a fall ii >> number four, stanford cardinal will make a final run through in pasadena opponent wisconsin appearing in its third straight rose bowl. they hope taylor will -- taylor -- >> number five, plenty of transit options from new year's eve revelry bart will run trains until 3:00 tomorrow morning,
to try to avoid the fiscal cliff. leaders are offering up to $450,000 in family income before higher taxes kick in. last night they were unable to make a counter offer to republicans, vice president biden was called in to break the ice. "good morning america" will have the latest at 7:00. >> number two, house fire in san francisco sent two to the hospital. two story structure on athens street was well involved by the time firefighters arrived before 1 this morning. a gas main...
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Dec 28, 2012
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. >> we're going to end up with a small, kick-the-can, down-the- road bill to make another fiscal cliff to deal with this fiscal cliff. >> reporter: with expectation low, lawmakers are talk about how to retroactively fix any damage done by going over the cliff with congress. nicole collins, fox news. >>> developing tonight, a strike that could have shut down ports up and down the east coast is averted for now. the long shoreman's union along the east coast and gulf of mexico will extend the current contract for 30 days. that extension prevents a possible strike that could have crippled operations at port and including the port of baltimore. in a statement today, the maryland governor martin o'malley wrote, quote, the port of baltimore continues to be a major part of the state economic strait generating and supporting thousands of jobs. during the extended period, we hope long-term resolutions can be reached for the hardworking families who depend on jobs and commerce linked to the port of baltimore. >>> to the state of the skins. it's the hottest ticket in town. the redskins play host s
. >> we're going to end up with a small, kick-the-can, down-the- road bill to make another fiscal cliff to deal with this fiscal cliff. >> reporter: with expectation low, lawmakers are talk about how to retroactively fix any damage done by going over the cliff with congress. nicole collins, fox news. >>> developing tonight, a strike that could have shut down ports up and down the east coast is averted for now. the long shoreman's union along the east coast and gulf of...
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the president will hear about the fiscal cliff problem as well as members of congress return to washington to address the fiscal cliff. talks will take place behind closed doors. no public negotiations set. you have the debt and the fiscal cliff. it's not looking too good right now when it comes to the u.s. economy. >> geithner told congressional leaders that his department is using some accounting measures basically a fancy way of saying they're going to free up cash to hold off temporarily this fiscal cliff. but it's still not looking good. >> i don't know about you at home, but kicking the can down the road has been happening over and over again. somebody has to make some decisions here. >> it's like in this business, they give you a deadline and you have to hit the deadline. there's no coming in and saying take another ten minutes. it don't work that way in real life. there are americans out there saying get off your couches. get back to washington and get the deal done. >> sometimes it's not pretty when you have to rush, but get it done. >>> still on the economy now, new signs of a tu
the president will hear about the fiscal cliff problem as well as members of congress return to washington to address the fiscal cliff. talks will take place behind closed doors. no public negotiations set. you have the debt and the fiscal cliff. it's not looking too good right now when it comes to the u.s. economy. >> geithner told congressional leaders that his department is using some accounting measures basically a fancy way of saying they're going to free up cash to hold off...
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and time is ticking down on the "fiscal cliff" clock. >> not likely to make a deal before the 1st. >> reporter: cbs 5 political analyst joe tuman says this is washington politics at its worst. >> the only thing that's going to force both sides to negotiate is going over the deadline. people will vote for it. they will be able to say exactly the opposite. >> reporter: in the meantime, consumers suffer. that's because we're about to take the plunge off the dairy cliff. a farm bill expires at the end of the year meaning the government reverts back to the 63-year-old pricing formula for milk and those costs are passed to you. nogallon of milk is about $3.50
and time is ticking down on the "fiscal cliff" clock. >> not likely to make a deal before the 1st. >> reporter: cbs 5 political analyst joe tuman says this is washington politics at its worst. >> the only thing that's going to force both sides to negotiate is going over the deadline. people will vote for it. they will be able to say exactly the opposite. >> reporter: in the meantime, consumers suffer. that's because we're about to take the plunge off the dairy...
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cliff." cbs reporter tara mergener says congress remains gridlocked and fewer americans expect any progress before the new year. >>> reporter: senators and staffers will be filling these empty hallways today trying to work out a deal to avoid the "fiscal cliff." higher taxes will give the average american about $1,500 less to spend next year. and economists believe the $110 billion spending cuts will result in more layoffs. senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short term spending cuts until a bigger dooley can be reached. >> it is going to be a patch because in four days we can't solve everything. >> reporter: while senators try to brave the bad weather that has hit many parts of the country, in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. >> good morning? >> reporter: house republicans scuttled the proposal from speaker john boehner last week an
cliff." cbs reporter tara mergener says congress remains gridlocked and fewer americans expect any progress before the new year. >>> reporter: senators and staffers will be filling these empty hallways today trying to work out a deal to avoid the "fiscal cliff." higher taxes will give the average american about $1,500 less to spend next year. and economists believe the $110 billion spending cuts will result in more layoffs. senator harry reid has a plan to keep taxes low...
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that was put on cups to push members of congress to come to a deal on the fiscal cliff. shultz followed up with a blog saying everyone should put the pressure on congress. >>> a cartoonist went a more pessimistic approach. a box labeled deficit crisis compromised saying do not open until with all the holidays crossed out signed by boehner and obama. >>> all featured on politico's list of the top viral videos of 2012. the politico ones, of course. here's a look back. >> in the silvery moonlight that bathes every town, the people lie dreaming so safe and so sound. they're warm in their beds, snuggled up in the sheets. but four years before, they were out in the streets. sorry, my friend, but there's no time to snore. we're all on our own if romney has his way. and he's against safety nets. if you fall, tough luck. so i strongly suggest that you wake the [ bleep ] up. >> there's only one thing that might deny us the presidency that is the god-given property and he's against safety nets. if you fall, tough luck. so i strongly suggest that you wake the [ bleep ] up. >> there'
that was put on cups to push members of congress to come to a deal on the fiscal cliff. shultz followed up with a blog saying everyone should put the pressure on congress. >>> a cartoonist went a more pessimistic approach. a box labeled deficit crisis compromised saying do not open until with all the holidays crossed out signed by boehner and obama. >>> all featured on politico's list of the top viral videos of 2012. the politico ones, of course. here's a look back. >>...
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Dec 29, 2012
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garcia knows that his monthly money orders won't avert the fiscal cliff. but they say that is not the message garcia is sending to congress. >> in order to really solve the $16 trillion national debt you have to sacrifice. >> reporter: politicians talk about kicking the can down the road. one american has decided that road has to end. and it might as well be here. kyung lah, cnn, san antonio, texas. >>> back in a moment. it's lots of things. all waking up. connecting to the global phenomenon we call the internet of everything. ♪ it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. we're going to wake the world up. and watch, with eyes wide, as it gets to work. cisco. tomorrow starts here. [ male announcer ] jill and her mouth have lived a great life. but she has some dental issues she's not happy about. so i introduced jill to crest pro-health for life. selected for people over 50. pro-health for life is a toothpaste that defends against tender, inflamed gums, sensitivity and weak enamel. conditions people over 50 experi
garcia knows that his monthly money orders won't avert the fiscal cliff. but they say that is not the message garcia is sending to congress. >> in order to really solve the $16 trillion national debt you have to sacrifice. >> reporter: politicians talk about kicking the can down the road. one american has decided that road has to end. and it might as well be here. kyung lah, cnn, san antonio, texas. >>> back in a moment. it's lots of things. all waking up. connecting to the...
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Dec 27, 2012
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not reached a deal. >> for those of us keeping score, if there's a fiscal cliff deal, there will be a new senator voting. >> that's right. sworn in a new minutes ago. i made reference to vice president joe biden, here to swear in the new senator representing hawaii, brian shatz. only the circus senator -- sixth senator to represent hawaii. he's a democrat. it will be interesting to see exactly how he weighs in at some point over the fiscal cliff mess in the final days of 2012. >> mike, thank you. on top of those fiscal cliff concerns, the treasury secretary, timothy geithner, warns we're set to hit the debt ceiling new year's eve, the max amount we're allowed to spend. the current limit is $16.4 trillion. he says the obama administration will work to make sure the u.s. does not default on loans right away but the debate will be another drag on the economy. with us, the chief business correspondent for u.s. news and world report, rick newman, and author of rebounders, how winners pivot from setback to success. talk about the debt ceiling for us, first of all, welcome. talk about the
not reached a deal. >> for those of us keeping score, if there's a fiscal cliff deal, there will be a new senator voting. >> that's right. sworn in a new minutes ago. i made reference to vice president joe biden, here to swear in the new senator representing hawaii, brian shatz. only the circus senator -- sixth senator to represent hawaii. he's a democrat. it will be interesting to see exactly how he weighs in at some point over the fiscal cliff mess in the final days of 2012....
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Dec 30, 2012
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if they don't, we are going off the fiscal cliff. it's where we stand now. >> you should vote your conscience, no matter what happens. you are an outgoing member of congress. you don't have to worry about re-electi re-election. many members of congress are doing what they believe their home districts want them to do. this is about self-preservation and getting reelected. are you in any different position? do you think they can look at this differently? >> i think you are in a lame duck session. it's a different dynamic. you have members that have lost and retired. yes, it's different in a lame duck than it would be before an election. this would be catastrophic for the country if we allowed it to happen. we have to have a deal in 36 hours. the people are committed regardless to doing the right thing for the country. it's what's most important. >> this is the way you wanted to go out with this mess? >> well, we could have handled it better. we are in this position because we mishandled it in the first place. we are where we are. i'm h
if they don't, we are going off the fiscal cliff. it's where we stand now. >> you should vote your conscience, no matter what happens. you are an outgoing member of congress. you don't have to worry about re-electi re-election. many members of congress are doing what they believe their home districts want them to do. this is about self-preservation and getting reelected. are you in any different position? do you think they can look at this differently? >> i think you are in a lame...
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Dec 29, 2012
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cliff, congress, though, hey, about to get a raise. part of an executive order that president obama issued which ends a pay freeze for federal workers. their salaries, yeah, they'll if up by half a percent after march 27. that's an extra $900 before taxes. currently members of congress make $174,000 a year except for leaders who make a little more. the last time there was a pay raise was 2009. >>> there is one thing the senate has agreed on, getting aid to victims of superstorm sandy. by a 61-33 vote the chamber passed a measure offering $60 billion in help. it heads to the house which must approve the bill by thursday or else the process to consider the money has to start all over again. at least 113 people were killed when superstorm sandy hit in late october. the governors of new york and new jersey, the hardest hit states, have estimated damages at more than $78 billion. >>> and turning to weather. even though winter is just over a week old, millions of americans probably can't wait for spring to arrive. me, as well, yes. scenes li
cliff, congress, though, hey, about to get a raise. part of an executive order that president obama issued which ends a pay freeze for federal workers. their salaries, yeah, they'll if up by half a percent after march 27. that's an extra $900 before taxes. currently members of congress make $174,000 a year except for leaders who make a little more. the last time there was a pay raise was 2009. >>> there is one thing the senate has agreed on, getting aid to victims of superstorm sandy....
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some members of congress admit they may well just go over the fiscal cliff and deal with it in january after the new congress is sworn in. leaving his family behind to continue their vacation without him, president obama boarded air force one early this morning and headed for washington to deal with unfinished fiscal cliff business. with just five days until the combination of automatic tax increases and spending cuts that could send the economy back into recession, mr. obama wants congress to take the lead in getting the job done. the senate convenes later today and senate majority leader harry reid told members to be prepared to address fiscal cliff issues through the weekend. reid is working on his own plan to get lawmakers to come together before the end of the year deadline. that plan would likely include letting the bush tax cuts expire for households making more than $250,000 a year and short term spending cuts instead of the massive long-term cuts that would happen if there is no deal. after our wednesday conference call, house republican leaders issued a statement saying they
some members of congress admit they may well just go over the fiscal cliff and deal with it in january after the new congress is sworn in. leaving his family behind to continue their vacation without him, president obama boarded air force one early this morning and headed for washington to deal with unfinished fiscal cliff business. with just five days until the combination of automatic tax increases and spending cuts that could send the economy back into recession, mr. obama wants congress to...
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Dec 30, 2012
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cliff. >> well, first of all, as a former jazz bassist i have to appreciate the citing of "so what" because that's a bass feature. look, i've got to say. going over the cliff at this point i think is better than accepting a bad deal, and i don't think that we should operate from the perspective that going over the cliff temporarily must be avoided at all costs because a short trip over the cliff, what you might think of as a bungee jump, is a lot better in the longer term both for the economy and for deficit reduction than crafting a deal at the very last minute that would be just some kind of an ugly frankenstein. now, the -- the worst part about going over the cliff is that a couple of million people actually lose their unemployment benefits, so i don't want to say that it's painless because it's not, but it -- it does -- there is a scenario by which you could reverse all of the -- most of the tax increases pretty quickly, and, remember, after december 31st midnight, if you're a republican
cliff. >> well, first of all, as a former jazz bassist i have to appreciate the citing of "so what" because that's a bass feature. look, i've got to say. going over the cliff at this point i think is better than accepting a bad deal, and i don't think that we should operate from the perspective that going over the cliff temporarily must be avoided at all costs because a short trip over the cliff, what you might think of as a bungee jump, is a lot better in the longer term both...
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Dec 28, 2012
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four top ranking members of congress meeting with the president trying to avert a fiscal cliff. as soon as we get word, you'll be the first to know. >>> no strike for at least a month for workers at ports on the east and gulf coasts. it would be a big deal for the nation's economy if the international longshoreman's association does strike. the contract was due to expire a minute after midnight sunday, but good news, good news today as both parties agree to a partial deal to keep talking. they were able to work out a major sticking point that extends the contract for a month. so stay tuned. >>> more water is drastically needed in the mississippi river. the need is so dire, barge traffic may shut down as early as next week. that means thousands of shippers may lose their jobs. water levels and ice forming in the river right now makes it difficult for the ships to pass through. ships carry about $7 billion in goods on the river in december and in january. that's according to bloomberg report. i want to bring in chad myers now. how will the current weather situation play into this?
four top ranking members of congress meeting with the president trying to avert a fiscal cliff. as soon as we get word, you'll be the first to know. >>> no strike for at least a month for workers at ports on the east and gulf coasts. it would be a big deal for the nation's economy if the international longshoreman's association does strike. the contract was due to expire a minute after midnight sunday, but good news, good news today as both parties agree to a partial deal to keep...
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Dec 29, 2012
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what are the polls telling us about who is to blame in the fiscal cliff crisis? >> arthel: according to a brand-new poll from rasmussen reports, 44% will blame congress if we go over the cliff. 36% will blame president obama. and 15% will blame both. >> gregg: joining us now independent pollster and founder and president of rasmussen reports, scott rasmussen. scott, we certainly have been getting a lot of e-mails over the course of the last couple of weeks and arrest they will has a -- arthel has a great one. >> arthel: this is from a friend of mine who lives in san diego. she sent a text, she says, fiscal cliff issues drive me crazy! they should not get paid until it's resolved and we have a meaningful budget. none of us could run our household the way washington runs things. what do you say to that? >> you know, that's the real story here. people are looking at these kids in washington who are just messing up and can't do the basics. they're disgusted with both political parties and i think all of our political leaders are going to have a hard time regaining an
what are the polls telling us about who is to blame in the fiscal cliff crisis? >> arthel: according to a brand-new poll from rasmussen reports, 44% will blame congress if we go over the cliff. 36% will blame president obama. and 15% will blame both. >> gregg: joining us now independent pollster and founder and president of rasmussen reports, scott rasmussen. scott, we certainly have been getting a lot of e-mails over the course of the last couple of weeks and arrest they will has a...
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cliff looms and congress can't seem to compromise. arthur cooper one of those. the owner of an internet marketing company. he is concerned that the change this tax rates will hurt his ability to hire. he says the uncertainty is making him run his business defensively, making decisions based on business already coming in because he can't risk losing it all. >> knowing the rules has -- is much more important than what the rules really are because then you can actually say, okay, this is what we can do and this is what our margins are going to look like and this is what we are going to be able to plan on. >> economists say one of the effects of the fiscal cliff is that businesses are now holding back on spending money whether it be investing in stock, machinery and equipment needed for the company or products they sell. and for a slowly strengthening economy, the shock of less spending could be all it takes to push the country back into a recession. >> businesses are not hiring workers now at the pace we would expect because the small bu
cliff looms and congress can't seem to compromise. arthur cooper one of those. the owner of an internet marketing company. he is concerned that the change this tax rates will hurt his ability to hire. he says the uncertainty is making him run his business defensively, making decisions based on business already coming in because he can't risk losing it all. >> knowing the rules has -- is much more important than what the rules really are because then you can actually say, okay, this is...
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we're less than 48 hours away from the fiscal cliff. will congress and the white house be able to reach a deal before americans see a 500 billion dollar tax increase? >> and george h.w. bush's health taking a turn for the better. there's good news regarding the former president's healths. >> clayton: well put. >> juliet: well said. >> clayton: a frightening moment when an airplane broke in half crashing on to a busy highway, caught on camera. watch this. >> juliet: oh, how about that car? >> that's not something you see every day. >> no. >> "fox & friends" begins right now. ♪ >> hey, everybody. >> juliet: hi, everybody. >> dave: good sunday morning, juliet huddy in for ali. how are you doing, my friend. >> clayton: dave usually gets the coffee. and no coffee around this place. >> dave: i apologize. >> clayton: dave overslept and dropped the ball. >> dave: it happened with my iphone. i woke up an hour too late to my wife shaking me. >> juliet: i don't know what it is about this morning. i'm like in lala land. >> clayton: there is no sn
we're less than 48 hours away from the fiscal cliff. will congress and the white house be able to reach a deal before americans see a 500 billion dollar tax increase? >> and george h.w. bush's health taking a turn for the better. there's good news regarding the former president's healths. >> clayton: well put. >> juliet: well said. >> clayton: a frightening moment when an airplane broke in half crashing on to a busy highway, caught on camera. watch this. >> juliet:...
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congress has been so bogged down with the fiscal cliff, the farm bill is still on the table. if congress does not pass it, dairy subsidies would immediately end on january 1, and those subsidies have been keeping milk prices low for 63 years. >>> the price of curbside parking in chicago is going up january 1. parking meters will charge $6.50 an hour in the downtown area. chicago will have the highest parking meter rates in the country, staking the dubious distinction away from san francisco. congratulations. chicago outsourced its parking meters to a private company and many drivers question that question now. >>> now to some surveillance video from houston. trust me, when you see this, you're going to want these bad guys put away for a long time. the gang of thieves ripped off a daycare center. three or four young men were captured on surveillance camera. there's one right there. going in, they shattered the glass door, then stole six tvs and several game consoles. that ain't all. and one thief took the time to hop on a tiny tricycle and ride it around the yard of the buildi
congress has been so bogged down with the fiscal cliff, the farm bill is still on the table. if congress does not pass it, dairy subsidies would immediately end on january 1, and those subsidies have been keeping milk prices low for 63 years. >>> the price of curbside parking in chicago is going up january 1. parking meters will charge $6.50 an hour in the downtown area. chicago will have the highest parking meter rates in the country, staking the dubious distinction away from san...
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we're one day away from what most media are calling the fiscal cliff. if political concoction enacted by congress to frighten itself into passing deficit reduction measures which means unless congress acts in the next 48 hours the bush tax cuts will expire along with federal unemployment insurance and a broad package of the spending cuts including defense spending will take effect. do weeks of fruitless negotiations and john boehner and senate leader are working on a deal this morning to avoid the fiscal cliff, or as chris hayes and i call it, the fiscal curve. the deadline is soft. it's not like every american is going to be handed a bill on january 1st and there's way to manage the damage if the country goes over. the senate is set to convene this afternoon with the house to follow tonight. there's a chance that a compromise will be reached, less than 48 hours before tax rates revert to their clinton dasher are levels and board across the board spending cuts talk effect. when the president took to the podium friday afternoon to urge the law enforcemen
we're one day away from what most media are calling the fiscal cliff. if political concoction enacted by congress to frighten itself into passing deficit reduction measures which means unless congress acts in the next 48 hours the bush tax cuts will expire along with federal unemployment insurance and a broad package of the spending cuts including defense spending will take effect. do weeks of fruitless negotiations and john boehner and senate leader are working on a deal this morning to avoid...
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the fiscal cliff? do you think it's possible that a compromise will be reached before the deadline? tammy simpson writes -- peggy fleming says -- >> a lot of people fired up obviously over this. >>> traffic is back to normal on the springfield interchange, even while virginia state police continue to investigate a deadly accident there. this happened around 7:00 last night when a tractor-trailer stopped in traffic, was rear- ended by a pickup truck. three people inside the pickup truck died at the scene. the driver of the tractor- trailer was not hurt. >>> d.c. police are offering a $25,000 reward for information leading to the arrest in the shooting death of a capitol hill man. jason emma was shot multiple times the morning of christmas eve. he was found sitting in his car. the vehicle was still running. police think he was killed when two men tried to rob him. the funeral is set for tomorrow at 11:00 in arlington. >>> a disturbing scene out of new york city, where police say a man has died after bein
the fiscal cliff? do you think it's possible that a compromise will be reached before the deadline? tammy simpson writes -- peggy fleming says -- >> a lot of people fired up obviously over this. >>> traffic is back to normal on the springfield interchange, even while virginia state police continue to investigate a deadly accident there. this happened around 7:00 last night when a tractor-trailer stopped in traffic, was rear- ended by a pickup truck. three people inside the pickup...
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can the white house and congress keep the country from going off the fiscal cliff? >>> a dangerous winter storm roaring across the eastern half of the u.s. bringing blizzard conditions and travel nightmares. plus, the nra's controversial proposal to put armed volunteers in every school, we'll go in-depth with the man in charge of the national school shield program. i'm joe johns. you're in "the situation room." the u.s. is now just six days away from the so-called fiscal cliff. and a mad scramble is on here in washington to avoid the drastic tax hikes and spending cuts that many fear will plunge the economy back into recession. president obama flies back from hawaii tonight to be ready if the senate comes back with a plan when it returns to work tomorrow. and house leaders are huddling with members on stand-by to return. senior congressional correspondent dana bash is following all of it for us. what are you hearing? >> there was a conference call of course members of the house leadership even, they're back in their districts, but there was a conference call today a
can the white house and congress keep the country from going off the fiscal cliff? >>> a dangerous winter storm roaring across the eastern half of the u.s. bringing blizzard conditions and travel nightmares. plus, the nra's controversial proposal to put armed volunteers in every school, we'll go in-depth with the man in charge of the national school shield program. i'm joe johns. you're in "the situation room." the u.s. is now just six days away from the so-called fiscal...
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cliff and then taxes will rise, right, but then congress will reconvene on january 3rd and vote to cut taxes. is that appliable solution in your mind? >> it kind of it, pretty much what i feel will happen. they have a little bit of wiggle room. the majority of this is not going to be felt until 2014 for the majority of the income tax rise so that causes congress to force them to make a deal knowing that we actually are operating under a higher tax rate right now, even though americans won't feel it, so it's almost like an additional leverage for those who actually want to make a deal and get something done. i just want somebody, like starbucks, we all need to come together. >> and quit kicking the can down the road, darn it. >> exactly. >> ryan thank you for being with us this morning. >> thank you. >> ryan has been with us all week tackling the fiscal effects on your pocketbook. tomorrow, what the fiscal cliff means for your retirement. >>> from the strange case of the technology pioneer john mcafee on the run to so many tragic shootings, we have the top crime and punishment stories o
cliff and then taxes will rise, right, but then congress will reconvene on january 3rd and vote to cut taxes. is that appliable solution in your mind? >> it kind of it, pretty much what i feel will happen. they have a little bit of wiggle room. the majority of this is not going to be felt until 2014 for the majority of the income tax rise so that causes congress to force them to make a deal knowing that we actually are operating under a higher tax rate right now, even though americans...
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congress over the fiscal cliff could be settled if. that's what he's really saying in this press conference in damascus. the elements are there under plan world powers agreed to back in jeune. but, of course, getting agreement if there fr. the assad side and the rebels the and the government, that's a tall order. he's an experienced negotiator. there seems to be some momentum with a flurry of talks and shuttle-type dip ploemmy but he still said and lamented syria is deteriorating rapidly. and as he said there's no u.s./russian plan. there may be discussions on options. can will there a transitional government formed and then elections but we're still not at that stage yet, suzanne. >> do we think he's bringing anything to the table that kofi annan did not who failed in brings these sides together? >> yes. and in failed, it may be a matter of timing. certainly the matter of violence has an eastbound. 40,000 report lid dead. brahimi has not had that success either but he's plugging away. he's been the man in the field from the u.n. from
congress over the fiscal cliff could be settled if. that's what he's really saying in this press conference in damascus. the elements are there under plan world powers agreed to back in jeune. but, of course, getting agreement if there fr. the assad side and the rebels the and the government, that's a tall order. he's an experienced negotiator. there seems to be some momentum with a flurry of talks and shuttle-type dip ploemmy but he still said and lamented syria is deteriorating rapidly. and...
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just days before the country falls off the so-called fiscal cliff, president obama will depart honolulu later tonight. the president and congress now have just six days to reach a new year's
just days before the country falls off the so-called fiscal cliff, president obama will depart honolulu later tonight. the president and congress now have just six days to reach a new year's
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finally fixes this fiscal cliff problem. gregg: molly henneberg. these cuts were never expected to be enacted, were they? >> reporter: right, during the budget battle of 2011, remember that super committee they were trying to find sending cuts during that time. these spending cuts were put in as an unthinkable trigger to force lawmakers to find a which too cut spending. >> they make it particularly unplatte hratable, they wanted it to come out of the budget. they thought it was too harsh, the secretary of defense said it would hollow out the military. we face the possibility now that it will hop. >> reporter: the only way to aeu sroeutd cutto avoid these cuts implemented is for the congress to act before the new year. gregg: i want to know whose idea it was. it came from the white house according to bob woodward "the pricef politics" the proposal was presented on behalf of the president. it's interesting that now he is struggling to try to deal with his own proposal. >> reporter: and time is running short. patti ann: new yor
finally fixes this fiscal cliff problem. gregg: molly henneberg. these cuts were never expected to be enacted, were they? >> reporter: right, during the budget battle of 2011, remember that super committee they were trying to find sending cuts during that time. these spending cuts were put in as an unthinkable trigger to force lawmakers to find a which too cut spending. >> they make it particularly unplatte hratable, they wanted it to come out of the budget. they thought it was too...
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but if congress does not work out a fiscal cliff deal, those workers will not notice much of a difference in paychecks because of higher taxes. >>> and milk might be good for your bones soon mighting bad for your bank account. congress has until tomorrow to vote on a mutual agreement to extend the farm bill by one year, or you could see milk prices double. it's not even certain the vote is going to happen yet, but people already calling the situation the dairy cliff. the secretary of agriculture tom vilsack issuing a dire warning about all dairy product prices, and he explains why this is happening. >> well, if you like anything made with milk, you're going to be impacted by the fact that there's no farm bill. because if there is not an extension of the existing bill or a new bill, basically on january 1st or shortly thereafter, permanent agricultural law goes back into place, 1949 law, which basically means the federal government will go back in the business of strongly supporting the dairy industry by raising the price support, if you will, or support for dairy products to $38 a hundred
but if congress does not work out a fiscal cliff deal, those workers will not notice much of a difference in paychecks because of higher taxes. >>> and milk might be good for your bones soon mighting bad for your bank account. congress has until tomorrow to vote on a mutual agreement to extend the farm bill by one year, or you could see milk prices double. it's not even certain the vote is going to happen yet, but people already calling the situation the dairy cliff. the secretary of...
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reconvenes days ahead of the so-called fiscal cliff. you're just six days from feeling this. now, first hit is coming on january 1st when your take home pay will drop by 2% because of a scheduled hike in the social security payroll tax. that's just the start. income taxes are set to climb too. and you'll notice that when employer gets to around the adjusted withholding, the government spending cuts, those are also scheduled for january 1st and bound to slow the economy and some argue they'll weaken the military. congress has seen this coming, but an effort to limit the damage failed last week. republican house speaker john boehner could not persuade enough members of his party to let tax rates rise on incomes over a million dollars while sparing everyone else. dana bash is our senior congressional correspondent. dana, this time tomorrow, the president is supposed to be back, having cut his trip to hawaii short, the first lady, the girls are staying in hawaii. the senate is supposed to convene, but not necessarily the house. what is goin
reconvenes days ahead of the so-called fiscal cliff. you're just six days from feeling this. now, first hit is coming on january 1st when your take home pay will drop by 2% because of a scheduled hike in the social security payroll tax. that's just the start. income taxes are set to climb too. and you'll notice that when employer gets to around the adjusted withholding, the government spending cuts, those are also scheduled for january 1st and bound to slow the economy and some argue they'll...
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it's a problem we see in congress on many issues including the fiscal cliff where they wait until the last minute and say there is not enough time to do real reforms that are necessary here. harris: they did take time away from the fiscal cliff to debate this 4 1/2 hours yesterday. >> that's true. harris: so there is that. dan, thanks very much. >> thanks for having me. jon: so as we count down to those year-end tax hikes and spending cuts that will affect the lives of virtually every single american, why one key republican lawmaker says his party is not even trying to solve the fiscal cliff crisis and why he thinks that may be a good thing. interesting take coming up. >>> plus, russian president vladmir putin, have you heard what he did? taking aim at americans who hope to adopt russian children. what's behind this controversial move? a live report next. jon: right now syria's opposition leader is rejecting an invitation for peace talks as the violence escalates. the country's ally, russia, is inviting the leader of syria's opposition to visit moskow for the first time but that offer
it's a problem we see in congress on many issues including the fiscal cliff where they wait until the last minute and say there is not enough time to do real reforms that are necessary here. harris: they did take time away from the fiscal cliff to debate this 4 1/2 hours yesterday. >> that's true. harris: so there is that. dan, thanks very much. >> thanks for having me. jon: so as we count down to those year-end tax hikes and spending cuts that will affect the lives of virtually...
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but the fiscal cliff will have happened. and one reason is i think it will be much too hard for the house to agree to a bill that uncouples the tax hikes. in other words, maybe raise taxes on one group, but not another group. that removes the leverage that i think republicans really feel they need in order to get the kind of spending cuts and entitlement reform that they feel is really just fundamental to reforming the nation's debt and the economy staring down a healthier path. so for that reason, yeah, i don't think they're going to have anything by the end of the week. jon: we just heard harry reid saying, oh, it's all john boehner's fault in the house of representatives. the president also seems to be pointing at the house. where does the truth lie here? i mean, who is, who needs to budge? >> well, technically the house and senate have each passed bills, but they don't agree on the bills that they've passed. for republicans i know from talking to even the most moderate republicans they are willing to vote for a tax rate
but the fiscal cliff will have happened. and one reason is i think it will be much too hard for the house to agree to a bill that uncouples the tax hikes. in other words, maybe raise taxes on one group, but not another group. that removes the leverage that i think republicans really feel they need in order to get the kind of spending cuts and entitlement reform that they feel is really just fundamental to reforming the nation's debt and the economy staring down a healthier path. so for that...
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then we have those five days, ali, as you say, until we go over the fiscal cliff. ali, one other number, six days until the markets open after the fiscal cliff and i'll throw a second number, one week until the new congress begins, so they are hard up against some big deadlines. >> the market implication is important because markets have done very, very well this year, lisa, and there's some suggestion if congress doesn't get it together before the new year, markets may force them to do so. we'll be talking more about that later in the show. lisa, thanks so much. we'll check in with you later. >>> piling on the concerns, treasury secretary tim geithner has warned congress hat u.s. will reach its debt ceiling on monday. that is when the government reaches its legal borrowing limit. now, this could pose a bigger threat to the nation's credit rating than the fiscal cliff. treasury can keep the government operating for a few weeks using emergency measures, but congress needs to act on this too to avoid a full-blown debt crisis. alina cho. joins us with the ret of the t
then we have those five days, ali, as you say, until we go over the fiscal cliff. ali, one other number, six days until the markets open after the fiscal cliff and i'll throw a second number, one week until the new congress begins, so they are hard up against some big deadlines. >> the market implication is important because markets have done very, very well this year, lisa, and there's some suggestion if congress doesn't get it together before the new year, markets may force them to do...
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congress has created its own deadline to this so-called fiscal cliff and now has to live by it over the next several hours to see if something can get done. erica? >> kelly o'donnell, thank you. chuck todd is nbc's political director. kelly mentioned some constructive movement but then there's this chasm we keep hearing about. is there a chance for a deal? >> i think -- i want to say yes, there's a chance for a deal! they're not that far apart. it really depends on the political motivations of the people at the negotiating table. you think about joe biden and mitch mcconnell, mitch mcconnell is totally looking at this through a political lens, what is in the best interest of republicans in his view? from what i understand in his view he thinks what's in the best interest of the republican party is getting the tax issue off the table and then having a big knockdown, drag-down fight with the president in six weeks over the debt ceiling. under that scenario, that would tell me, okay, he's likely to want to make a deal. when you look at the actions that republicans threw out that idea of th
congress has created its own deadline to this so-called fiscal cliff and now has to live by it over the next several hours to see if something can get done. erica? >> kelly o'donnell, thank you. chuck todd is nbc's political director. kelly mentioned some constructive movement but then there's this chasm we keep hearing about. is there a chance for a deal? >> i think -- i want to say yes, there's a chance for a deal! they're not that far apart. it really depends on the political...